I work for a Mercedes Dealer in Finance
06-02-2017, 02:29 PM
#51
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Join Date: Apr 2010
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2018 E300 Lux, 2006 Corvette Z51, 2015 Mercedes ML350 (wife's)
Regarding waiver of lease turn-in fee. Good luck. MBFS wouldn't waive mine because I was purchasing a new E300 and financed it through my credit union and not MBFS. The higher interest rate that MBFS was going to charge me would have exceeded the 2.15% + waiver fee that I got through the CU.
I you finance through MBFS they'll waive the fee.
I you finance through MBFS they'll waive the fee.
Should have signed with MBFS then refinanced..
06-02-2017, 02:52 PM
#52
MBWorld Fanatic!
Thanks, my dealer emailed me the order details. It is a good thing because there were a couple of omissions and deletions needed before the order is locked down in a few days.
06-02-2017, 03:16 PM
#53
Junior Member
Thread Starter
Originally Posted by ua549
Thanks, my dealer emailed me the order details. It is a good thing because there were a couple of omissions and deletions needed before the order is locked down in a few days.
06-03-2017, 11:18 AM
#55
Another great question!
As far as the lease turn in fee. It is only waived if going back through MBFS (Which I am sure you will)
Now the question about the PG (Personal Guarantor) lease/loan. This is a state by state ruling as to if it reports to the PG's credit. Here in AZ it does.
You can either have your dealer call to confirm or if you want to send me a PM with your state information I can call MBFS for you and find out.
I will say that banks look at PG loans/leases differently when considering additional credit to you. So I truly would not see it as something that would keep you from acquiring additional loans/leases/credit. Unless in your personal situation you have a large amount of debt.
Keep in mind that if your company grosses more than 3 million annually you can qualify for a business only lease/loan, meaning that you would not have to have a PG. You would just need to produce Tax Certified P&L's for three years to MBFS for consideration.
I hope this helps!
As far as the lease turn in fee. It is only waived if going back through MBFS (Which I am sure you will)
Now the question about the PG (Personal Guarantor) lease/loan. This is a state by state ruling as to if it reports to the PG's credit. Here in AZ it does.
You can either have your dealer call to confirm or if you want to send me a PM with your state information I can call MBFS for you and find out.
I will say that banks look at PG loans/leases differently when considering additional credit to you. So I truly would not see it as something that would keep you from acquiring additional loans/leases/credit. Unless in your personal situation you have a large amount of debt.
Keep in mind that if your company grosses more than 3 million annually you can qualify for a business only lease/loan, meaning that you would not have to have a PG. You would just need to produce Tax Certified P&L's for three years to MBFS for consideration.
I hope this helps!
My state is VA
Also would I be able to lease MB with Ally financial?
Not sure how to send a PM
06-03-2017, 11:38 AM
#56
Junior Member
Thread Starter
Originally Posted by Amir Javed
Ok great Thanks for the response.
My state is VA
Also would I be able to lease MB with Ally financial?
Not sure how to send a PM
My state is VA
Also would I be able to lease MB with Ally financial?
Not sure how to send a PM
06-06-2017, 08:29 PM
#57
Was successful in having lease end fee waived. Provided MBFS with purchase order number.
Received letter from MBFS that all end of lease obligations have been satisfied. Nothing due. And account closed. Now just have to wait for car to arrive.
Received letter from MBFS that all end of lease obligations have been satisfied. Nothing due. And account closed. Now just have to wait for car to arrive.
06-06-2017, 09:26 PM
#58
Junior Member
Thread Starter
Originally Posted by BeoBenz
Was successful in having lease end fee waived. Provided MBFS with purchase order number.
Received letter from MBFS that all end of lease obligations have been satisfied. Nothing due. And account closed. Now just have to wait for car to arrive.
Received letter from MBFS that all end of lease obligations have been satisfied. Nothing due. And account closed. Now just have to wait for car to arrive.
06-13-2017, 01:32 PM
#60
Junior Member
Balloon Financing
Hope you are enjoying your first MERC! What are the available terms for balloon financing? Can it be used to buy at end of lease as well? Do dealerships have the ability to negotiate end of lease buyouts?
06-13-2017, 02:48 PM
#61
Junior Member
Thread Starter
Originally Posted by rnpalmer
Hope you are enjoying your first MERC! What are the available terms for balloon financing? Can it be used to buy at end of lease as well? Do dealerships have the ability to negotiate end of lease buyouts?
As far as lease end pricing, the short answer no. The manufacture does not discount the pricing with us to the best of my knowledge.
However I really never encourage the purchase of a lease. In my honest opinion not the best use of your money.
06-13-2017, 03:15 PM
#63
Junior Member
Thread Starter
Originally Posted by dbtk
Mercedesfinance,
Does AutoPay reduce the MF by 0.00010 or 0.00008? Thanks.
Does AutoPay reduce the MF by 0.00010 or 0.00008? Thanks.
06-14-2017, 07:47 PM
#64
MBWorld Fanatic!
Mercedesfinance,
Thanks for your response re: Autopay.
What is the per mile charge to buy extra miles upfront during the lease signing? And after lease signing? $0.25 or $0.20? Thanks again.
Thanks for your response re: Autopay.
What is the per mile charge to buy extra miles upfront during the lease signing? And after lease signing? $0.25 or $0.20? Thanks again.
06-15-2017, 09:31 AM
#65
Junior Member
Thread Starter
Originally Posted by dbtk
Mercedesfinance,
Thanks for your response re: Autopay.
What is the per mile charge to buy extra miles upfront during the lease signing? And after lease signing? $0.25 or $0.20? Thanks again.
Thanks for your response re: Autopay.
What is the per mile charge to buy extra miles upfront during the lease signing? And after lease signing? $0.25 or $0.20? Thanks again.
06-15-2017, 10:56 PM
#67
Junior Member
Thread Starter
I do not believe that Mercedes Benz does a "mid-term mileage adjustment" like other manufactures do.
I may be wrong.... Believe it or not I dont know it all! =) I will call MBFS tomorrow and get an answer. If it is different I will update here.
06-16-2017, 09:39 AM
#69
Hey! Thanks for all the info. I was wondering if you could let me know how this lease looks to you?
total sticker price with add ons - 57,525.00
gross capital cost for lease - 48,374.83
money factor - 0.0010698662894 ( 2.57%)
amount due at lease signing $4,495.00 (2156.35 went to capitalized cost reduction)
residual value - 35025.00
base pymnt - 459.74
with taxes - payments $499.97
36months - 10k miles - total monthly pymnt coming to $17,998.82
total sticker price with add ons - 57,525.00
gross capital cost for lease - 48,374.83
money factor - 0.0010698662894 ( 2.57%)
amount due at lease signing $4,495.00 (2156.35 went to capitalized cost reduction)
residual value - 35025.00
base pymnt - 459.74
with taxes - payments $499.97
36months - 10k miles - total monthly pymnt coming to $17,998.82
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Cubfan (01-14-2019)
06-16-2017, 11:33 AM
#70
MBWorld Fanatic!
As a point of reference only...I am picking up a 2017 E300 4Matic next week:
MSRP with add ons= $62,925 (includes 2 year PPM)
MF= 0.00012 (0.29% with Autopay and 10 MSDs)
Due at signing= $2,877 (includes $600 CCR and 1st months rent)
36 months/10K miles per year
Monthly payment= $399.99 (includes tax of 7.75%)
Base payment before taxes= $371.22
Total payments less MSDs= $16,289 (includes all upfront costs)
Total monthly payments= $14,400 (includes 1st month payment as part of upfront costs/ $14,000 without 1st payment)
MSRP with add ons= $62,925 (includes 2 year PPM)
MF= 0.00012 (0.29% with Autopay and 10 MSDs)
Due at signing= $2,877 (includes $600 CCR and 1st months rent)
36 months/10K miles per year
Monthly payment= $399.99 (includes tax of 7.75%)
Base payment before taxes= $371.22
Total payments less MSDs= $16,289 (includes all upfront costs)
Total monthly payments= $14,400 (includes 1st month payment as part of upfront costs/ $14,000 without 1st payment)
Hey! Thanks for all the info. I was wondering if you could let me know how this lease looks to you?
total sticker price with add ons - 57,525.00
gross capital cost for lease - 48,374.83
money factor - 0.0010698662894 ( 2.57%)
amount due at lease signing $4,495.00 (2156.35 went to capitalized cost reduction)
residual value - 35025.00
base pymnt - 459.74
with taxes - payments $499.97
36months - 10k miles - total monthly pymnt coming to $17,998.82
total sticker price with add ons - 57,525.00
gross capital cost for lease - 48,374.83
money factor - 0.0010698662894 ( 2.57%)
amount due at lease signing $4,495.00 (2156.35 went to capitalized cost reduction)
residual value - 35025.00
base pymnt - 459.74
with taxes - payments $499.97
36months - 10k miles - total monthly pymnt coming to $17,998.82
Last edited by dbtk; 06-16-2017 at 11:39 AM.
06-16-2017, 12:16 PM
#72
Junior Member
Thread Starter
As a point of reference only...I am picking up a 2017 E300 4Matic next week:
MSRP with add ons= $62,925 (includes 2 year PPM)
MF= 0.00012 (0.29% with Autopay and 10 MSDs)
Due at signing= $2,877 (includes $600 CCR and 1st months rent)
36 months/10K miles per year
Monthly payment= $399.99 (includes tax of 7.75%)
Base payment before taxes= $371.22
Total payments less MSDs= $16,289 (includes all upfront costs)
Total monthly payments= $14,400 (includes 1st month payment as part of upfront costs/ $14,000 without 1st payment)
MSRP with add ons= $62,925 (includes 2 year PPM)
MF= 0.00012 (0.29% with Autopay and 10 MSDs)
Due at signing= $2,877 (includes $600 CCR and 1st months rent)
36 months/10K miles per year
Monthly payment= $399.99 (includes tax of 7.75%)
Base payment before taxes= $371.22
Total payments less MSDs= $16,289 (includes all upfront costs)
Total monthly payments= $14,400 (includes 1st month payment as part of upfront costs/ $14,000 without 1st payment)
The 10 Security deposits only reduce your MF by .00070 which is the equivalent to 1.68% without those your money factor should be 1.96%.
Now I would assume that if you have the cash to put down the extra security deposits that you most likely invest your cash. If you are returning more than 1.68% on those investments (Which if you are not you should fire your money guy) Then I would think it would be better for you overall to pay a higher payment and put only the fees down. I do not think that putting cash into a depreciating asset is the best thing you can do with your money.
The whole purpose of a lease is to mitigate any potential losses that you might have and only pay for the portion of the car that you use.
Honestly the only time that I see MSD leases as a good idea is when you are purchasing a car that only has Standard rates on it i.e. high end AMG cars. But again even then I usually try and talk people out of doing MSD leases because they are better with their money then MBFS would ever be.
So IMHO I would say skip the MSD lease. Just make the higher payment and invest your cash elsewhere.
Remember you are not investing in your future... You are buying a car!
Send me a PM with your number and I can call you and answer any other questions that you might have about what I am talking about above.
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descardion (06-18-2019)
06-16-2017, 01:01 PM
#73
MBWorld Fanatic!
MF,
With the 10 MSDs and AutoPay I was told that the Money Factor is reduced to 0.00012 (=0.00092 - 0.00070 - 0.00010) or approximately 0.29%. We calculated that total payments were reduced by over $2000 (all in rent financing charges). So with the $5,000 (10 MSDs) I save $2000 over the term of the lease plus I get back the $5,000 at the end of the lease. I may be missing something(?). Please advise...thanks.
Monthly payments
- with MSDs = $399.99
- without MSDs = $459.37
The delta is $69 +/- per month over 36 months.
With the 10 MSDs and AutoPay I was told that the Money Factor is reduced to 0.00012 (=0.00092 - 0.00070 - 0.00010) or approximately 0.29%. We calculated that total payments were reduced by over $2000 (all in rent financing charges). So with the $5,000 (10 MSDs) I save $2000 over the term of the lease plus I get back the $5,000 at the end of the lease. I may be missing something(?). Please advise...thanks.
Monthly payments
- with MSDs = $399.99
- without MSDs = $459.37
The delta is $69 +/- per month over 36 months.
Here is my only advice to you. I think your deal looks great. My question to you would be the following...
The 10 Security deposits only reduce your MF by .00070 which is the equivalent to 1.68% without those your money factor should be 1.96%.
Now I would assume that if you have the cash to put down the extra security deposits that you most likely invest your cash. If you are returning more than 1.68% on those investments (Which if you are not you should fire your money guy) Then I would think it would be better for you overall to pay a higher payment and put only the fees down. I do not think that putting cash into a depreciating asset is the best thing you can do with your money.
The whole purpose of a lease is to mitigate any potential losses that you might have and only pay for the portion of the car that you use.
Honestly the only time that I see MSD leases as a good idea is when you are purchasing a car that only has Standard rates on it i.e. high end AMG cars. But again even then I usually try and talk people out of doing MSD leases because they are better with their money then MBFS would ever be.
So IMHO I would say skip the MSD lease. Just make the higher payment and invest your cash elsewhere.
Remember you are not investing in your future... You are buying a car!
Send me a PM with your number and I can call you and answer any other questions that you might have about what I am talking about above.
The 10 Security deposits only reduce your MF by .00070 which is the equivalent to 1.68% without those your money factor should be 1.96%.
Now I would assume that if you have the cash to put down the extra security deposits that you most likely invest your cash. If you are returning more than 1.68% on those investments (Which if you are not you should fire your money guy) Then I would think it would be better for you overall to pay a higher payment and put only the fees down. I do not think that putting cash into a depreciating asset is the best thing you can do with your money.
The whole purpose of a lease is to mitigate any potential losses that you might have and only pay for the portion of the car that you use.
Honestly the only time that I see MSD leases as a good idea is when you are purchasing a car that only has Standard rates on it i.e. high end AMG cars. But again even then I usually try and talk people out of doing MSD leases because they are better with their money then MBFS would ever be.
So IMHO I would say skip the MSD lease. Just make the higher payment and invest your cash elsewhere.
Remember you are not investing in your future... You are buying a car!
Send me a PM with your number and I can call you and answer any other questions that you might have about what I am talking about above.
06-16-2017, 01:05 PM
#74
MBWorld Fanatic!
The MSDs are not CCR money but a refundable deposit. I am not sure I can get a 40% 3-year return on $5000 by investing it in the bank or another asset.
06-16-2017, 03:13 PM
#75
Junior Member
Thread Starter
So you lose the use of that money for 36 months only to save 1.68%. My argument was that you would most likely earn more than 1.68% on that money if you apply it somewhere else vs putting it into the lease and losing the use of that money for the term of the lease.
Just my $.02
Not trying to be disrespectful by telling you what to do with your money.
